Ever since its inception as a mail-in DVD service, the price of a Netflix subscription has only seemed to get higher. Of course, the platform has only risen in popularity with the release of releases of original series like House of Cards, Stranger Things and Ozark. Given the increase in demand for the platform (and the steep costs for some of its productions), it seems natural that the cost of a subscription would go up, though many still haven’t been happy with it. However, subscribers now have some good news, as it would now appear that prices are going down in some countries.
Netflix has opted to drop its subscription prices in over 100 different countries and, in some places, the number is dropping by half. According to Variety, the streaming giant is doing this in an effort to increase the number of subscribers in certain markets and to retain existing customers. The company is also looking to up its game in markets where the streamer hasn’t become as dominant. Unfortunately, the U.S, Canada, and Western Europe are not amongst the areas getting price cuts. Nevertheless, this is still big news, considering the rarity of such a cut.
The streamer has been made several adjustments to its subscriptions as of late. In late 2022, the platform introduced an ad-based option for the service, offering it at a cheaper price. The corporation also announced plans to limit password sharing under accounts. Several plans to do so have been proposed, and has received tremendous blowback from subscribers. Yet the brand still seems set on making this change, and it’s unclear if other services will follow suit.
Netflix struggled last year, as subscriber losses was reported in April 2022. Though the entertainment entity’s luck seems to turned around, as the company reported a gain of 7.7 million subscribers in Q4 of 2022, blowing past the predicted 4 million-subscriber increase. This is likely due to the lower-priced option for subscribers, as well as the popularity of several shows on the service including Wednesday and Dahmer– Monster: The Jeffrey Dahmer Story as well as hit movies like Glass Onion: A Knives Out Mystery and The Gray Man.
The streaming sphere as a whole is undergoing major changes as well. Some streamers, like HBO Max, are feeling the effects of overproducing content and have started pulling projects from their platforms, reportedly for tax write offs. In addition, Disney is reportedly looking to sell its stake in Hulu to focus on growing Disney+. Netflix is also testing out live programming by debuting a Chris Rock comedy special.
Whatever the price, it would seem that many are willing to buy a Netflix subscription in order to indulge in the company’s offerings. Subscribers and analysts alike will surely be keeping an eye on the company’s practices (and the market as a whole0 in order to gauge what kind of pricing moves it might make next.